Thursday, 24 May 2012

Wow...an exciting day today,with a late rally in the US markets.My take is the trend is still down and I covered shorts (Dax,Ftse ) today but will be looking for an oppurtunity to re-short Europe and maybe buy Vix.Great day for shorts in the softs...coffee,cocoa,soybeans....the trend is your friend.Ftse looks like 5100 needs to be tested but I think lower is likely.The weekly candles are a great "noise remover"

Wednesday, 23 May 2012

We should see a bounce from 5.00 at least.If we break below the previous highs its a sell !

I like this fund and the theme.I bought today at 5.04 but will not hesitate to cut if it doesnt act right .A Chinese hard landing would not be kind to EM so its a very important chart and one to monitor

Tuesday, 22 May 2012

A fair amount of confusion out there,especially amongst the Elliott fraternity (ES was 5 waves but cah only 3 or something :-) , but my take is that the dollar is looking strong (bad for equities/risk) ,weekly charts are bearish till we get a HH and there is a Gann cycle for a low on the 25th.So leaning towards today being a reversal and more down to come,still think we need to watch Dax,Ftse for the lead...

Saturday, 19 May 2012

Friday, 18 May 2012

Ugly close..we are in the target zone for the S&P at 1280-1300 but candles dont look bullish.This AAPL chart does not suggest the support on the Nasdaq chart I posted (looking for a bounce) this morning will hold.We shall just have to wait...

Thursday, 17 May 2012

Still thinking thinking a low between 1280-1300 on this 6 month cycle. 144 points down would be 1278.Wait for confirmation...a waterfall decline is not out of the question ! Mid June has important cycles and is also a Bradley date.

Tuesday, 15 May 2012

Head and shoulders and ADX sell signal...risk clearly remains on the downside.I still think we may bounce from 1280-1300 zone ,which was a measured move target I showed some time ago.Not a time to be complacent though,or to be clever scalping longs,imo ! (chart from Ron Walker)